Financial 15 Split Corp T.FTN

Alternate Symbol(s): FNNCF | T.FTN.PR.A

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to Preferred Shares are to provide holders of Preferred Shares with cumulative preferential monthly cash dividends in an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 per Preferred Share on or about the termination date. Its investment objectives with respect to Class A Shares are to provide holders of Class A Shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp > FTN unit nav to March 14 = approx: $17.40

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Post by mousermanon Mar 14, 2023 5:43pm

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Post# 35338471

FTN unit nav to March 14 = approx: $17.40

So FTN stocks bounced back quite nicely today, as the spreadsheet showed a loss of $ 1.07 since Feb 28 . This values the commons now @ $7.40 and the premium today would $1.67 or about 22.5%
This premium is lower than DGS or FFN, both of those not paying at the current levels. GO FIGURE.
I did pick up some FTN today, as getting a yield over 16% today, with that low premium is better than any others i can find out there, except for LCS which trades at a discount, however doesnt have $2.40 of safety built in.

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